Fitch assigns AA+(tha) to Easy Buy bonds

Fitch Ratings said it assigned a national long-term rating of AA+(tha) to Easy Buy PCL's upcoming issue of up to 1.5 billion Thai baht of senior bonds.

The bonds will have a maturity of two years.

The proceeds from the issue will be used for working capital and debt refinancing.

The bonds are rated at the same level as the company’s national long-term rating as they represent the unsubordinated and unsecured obligations of the company, Fitch said.

The company’s ratings are driven by expectations of institutional support from its parent, namely ACOM Co., Ltd. (A-/stable), the agency said.

Fitch said this view reflects Easy Buy’s strategic importance to its parent as indicated by the parent's significant 71% ownership, high levels of management control and integration, and ongoing evidence of funding and operational support.

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